Our experienced Tax legal team regularly publishes articles and updates - the full list of publications appears below. Our publications will keep you abreast of today's complex taxations laws and the latest GST developments that could affect your business. If you'd like to be notified when we add new tax publications to the site, please go to our subscription page to sign up for email alerts or, alternatively, you can subscribe to our RSS feed.
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- 17 December 2009
Client Update: ATO releases draft rulings on foreign private equity investorsPartner Michael Rigby looks at two new important tax draft determinations released by the ATO yesterday dealing with foreign investors in Australian assets
- 14 December 2009
Client Update: Proposed changes to taxation of MITs' disposal of investmentsThe Federal Assistant Treasurer has released exposure draft legislation on the taxation of gains and losses on the disposal of investments by managed investment trusts. Under the proposed legislation, trustees of eligible managed investment trusts will be able to elect capital account treatment for gains and losses on certain assets. Partner Michael Rigby and Lawyer Jonathan Lee report
- 28 September 2009
Paper: Current tax trends in Mergers and AcquisitionsPartner Martin Fry discusses recent trends in the tax aspects of mergers and acquisitions, focusing on scrip for scrip rollover and cost base push down, retail premiums in renounceable rights issues, and special dividends paid as part of a takeover bid
- 07 September 2009
Focus: New rules proposed on utilisation of lossesTreasury has released exposure draft legislation that is designed to resolve long-standing difficulties with the continuity of ownership test rules for the utilisation of company losses. The proposed legislation will have significant implications for companies with multiple classes of shares on issue that are seeking to utilise prior year losses for tax purposes. Partner Martin Fry reports
- 29 July 2009
Client Update: GST and representatives of incapacitated entitiesIn an attempt to reverse the effects of a recent court decision, the Federal Government has released draft legislation intended to make the representative of an incapacitated entity (and not the incapacitated entity) liable for GST on supplies made by the incapacitated entity. Partner Michael Perez, Senior Associate Chris Peadon and Lawyer Gulfam Ahmed report
- 22 July 2009
Paper: Taxation of Employee Share Schemes - The Current State of PlayPartner Sarah Bernhardt provides an overview of the Federal Government's proposed employee share scheme reforms
- 15 July 2009
Client Update: Insureds should act quickly to seek stamp duty refundsThe NSW Court of Appeal has affirmed an earlier decision that means that insureds may be entitled to a refund of stamp duty paid on general insurance effected in New South Wales prior to 20 June 2006 with persons who were not registered or authorised general insurers under the Insurance Act 1973 (Cth). Partners Adrian Chek and Malcolm Stephens and Senior Associate Chris Peadon report on this decision
- 13 July 2009
Client Update: Victoria tightens stamp duty provisionsAfter seven months of uncertainty, the controversial Duties Amendment Bill 2008 (Vic) (as amended) received Royal Assent on 7 July 2009. The changes to the stamp duty law have significant implications for dealings in dutiable property in Victoria, and apply retrospectively from 21 November 2008. Partner Tony Sheehan and Senior Associate Jennee Chan report
- 26 June 2009
Focus: Federal Court decision has GST implications for late payment feesA recent decision of the Federal Court addresses the nature of supplies made in the provision of charge cards and credit cards. It is a significant early step in what is likely to be a sometimes tortuous journey - the judicial interpretation of Australia's financial supply rules. It may turn out to have implications well beyond credit cards. Partner Ross Stitt reports
- 24 June 2009
Focus: Stamp duty - NSW landholder duty substantially expandedThe current land rich regime in NSW will be replaced by new landholder rules that significantly expand the base for assessing duty on the transfer of companies and unit trusts, including listed entities, that hold land in that state. The new rules will potentially also increase the amount of duty payable. Partner Tony Sheehan and Senior Associate Heran Kim report
- 22 June 2009
Client Update: NSW toughens mortgage duty provisionsA Bill has been introduced into the NSW Parliament that proposes to make major changes to NSW mortgage duty, with effect from 1 July 2009. Borrowers with existing or potential security arrangements over NSW property, and who are intending to drawdown or grant security on or after 1 July 2009, should urgently review their existing or proposed arrangements. Partners Adrian Chek and Tony Sheehan report
- 20 May 2009
Focus: Stamp duty - NT landholder duty and other budget changesThe Northern Territory Government recently released its budget for 2009-10, which announced a number of changes to stamp duty in the NT, including the imposition of landholder duty on the acquisition of listed companies and trusts. Taxpayers are also reminded that, with effect from 1 July 2009, NSW will be introducing new and broader landholder provisions, and South Australia will be abolishing mortgage and rental business duty. Partner Adrian Chek, Senior Associate Katrina Parkyn and Law Graduate Gobind Kalsi look at the proposed NT changes and at how they will affect taxpayers
- 09 April 2009
Focus: Tax implications of proposed executive remuneration reformsAmid the global recession and significant negative public sentiment against excessive executive remuneration practices, the Federal Government has mandated the Productivity Commission to examine Australia's framework for executive remuneration, including the tax treatment of equity based remuneration. In addition, the Government has proposed reforms to significantly broaden the circumstances in which shareholder approval of executive termination payments is required. Partner Sarah Bernhardt and Senior Associate Gaibrielle Germanos examine the taxation aspects of the reform proposals
- 30 March 2009
Focus: Court endorses broad application of anti-dividend stripping provisionThe Full Federal Court has held that the anti-dividend stripping provision applies to a broader range of circumstances than might be suggested by earlier Full Federal Court and High Court decisions. Partner Charles Armitage and Senior Associate Chris Peadon report
- 13 March 2009
Focus: Victoria's stamp duty anti-avoidance proposals not yet lawThe controversial proposed changes to Victoria's stamp duty regime have failed to become law, for now. However, the period of uncertainty for taxpayers continues. Partner Tony Sheehan and Senior Associate Jennee Chan consider the current status of dealings in dutiable property in Victoria
- 06 March 2009
Client Update: Tax risks of purchasing or investing in a business - Full Federal Court decisionsOur recent Focus: Tax risks for business purchasers and investors analysed recent cases that highlighted the risk that certain expected tax benefits may be denied as a result of decisions made about the structure and operation of a business. The Full Federal Court has this week handed down judgment in appeals from two of those decisions, in one case reversing the earlier decision. Partner Charles Armitage, Senior Associate Chris Peadon and Lawyer Gulfam Ahmed report on the implications for taxpayers
- 03 March 2009
Focus: Tax risks for business purchasers and investorsSome recent court decisions highlight the risk that certain tax benefits (such as tax losses and franking credits), which might be expected to be available, may be denied as a result of decisions made (often some years earlier) concerning the structure and operation of a business, the manner in which capital is injected, or because of a mistaken view of the tax law. Partner Charles Armitage and Senior Associate Chris Peadon report
- 20 February 2009
Focus: Tax consequences of the Carbon Pollution Reduction SchemeFollowing on from our summary of the Federal Government's White Paper on its Carbon Pollution Reduction Scheme, Australia's Low Pollution Future, Partner Grant Cathro and Lawyer Penny Alexander discuss in detail the tax consequences of the proposed Scheme. This is the eighth in a series of articles that examines in more depth the principal proposals contained in the White Paper
- 05 February 2009
Focus: Tax DisputesRecent court decisions highlight the potential risks of acting on common assumptions concerning the Australian Tax Office's use of confidential taxpayer information and the scope of the protection provided by a private binding ruling. Partner Malcolm Stephens and Senior Associate Chris Peadon from our Tax Dispute Group discuss these risks
- 16 January 2009
Client Update: Commercial LeasingA draft consultation paper released by the Queensland Government indicates that the prohibition on recovering land tax from tenants of leased commercial premises will be removed from the Land Tax Act 1915. Special Counsel Christine Adamson and Partner Grant Higgins look at how this change will affect both landlords and tenants, particularly those currently negotiating new leases that may not be finalised before 30 June 2009
- 19 December 2008
Client Update: Insolvency/GSTA recent Federal Court case has dealt with the issue of whether a liquidator is personally liable for GST payable on supplies made while a company is being wound up. Partner Ross Stitt and Summer Clerk David Allen report
- 17 December 2008
Client Update: TaxSince 2001, Australia has renegotiated its double tax treaties with some of its major trading partners. In mostcases, the revised treaty contains an exemption from interest withholding tax that would otherwise be payable by an Australian borrower where the interest is derived by a financial institution (as defined in the treaty) resident in the country with which Australia has the relevant double tax treaty, or by the government or central bank of that country. Senior Associate Thomas McAuliffe and Partner Charles Armitage review the current state of play
- 17 December 2008
Focus: Stamp DutyProposed changes to Victoria's stamp duty law will have far-reaching consequences that will impact on all taxpayers with dealings in dutiable property in Victoria. Partner Tony Sheehan and Senior Associate Jennee Chan examine the proposed changes
- 26 November 2008
Focus: InsuranceInsureds may be entitled to a refund of stamp duty paid on general insurance placed prior to 20 June 2006 with persons who were not registered or authorised general insurers under the Insurance Act 1973 (Cth). Partners Adrian Chek and Malcolm Stephens and Senior Associate Chris Peadon report on a recent decision of the NSW Supreme Court
- 18 November 2008
Client Update: TaxOn 11 November 2008, the New South Wales Government released a mini-budget announcing a number of changes to taxes and duties in NSW. Partner Adrian Chek and Senior Associate Katrina Parkyn look at the new measures which will affect a wide range of taxpayers
- 31 October 2008
Client Update: Tax/Managed Investment TrustsRecently, the Board of Taxation released its discussion paper on the tax arrangements applying to managed investment trusts. The paper acknowledges that while the Australian managed funds industry has developed into one of the largest and most dynamic in the world, their taxation has been based on the laws for the taxation of trusts. Partner Martin Fry and Lawyer Belinda Loke report on the Board of Taxation's discussion paper and the pertinent issues affecting the managed funds industry
- 02 October 2008
Focus: TaxThe Federal Government recently introduced a Bill that proposes changes to the GST margin scheme provisions. Partner Peter Allen and Senior Associate Marc Johnston analyse the main proposed change
- 07 August 2008
Focus: TaxThe High Court recently handed down its judgments in two cases concerning the right of taxpayers to challenge decisions of the Commissioner of Taxation. Partner Malcolm Stephens, Senior Associate Chris Peadon and Lawyer Pouyan Afshar of our Tax Dispute Group discuss the effect of these decisions
- 06 August 2008
Client Update: GSTThe Board of Taxation has begun a review of the legal framework for the administration of GST after announcements by the Federal Government on 11 June 2008. The review will seek ways to reduce compliance costs and to streamline and improve the operation of GST in Australia. Partner Ross Stitt and Lawyer Pouyan Afshar report on the Board of Taxation's issues paper on this issue
- 04 August 2008
Focus: Tax - Public Trading TrustsIn a welcome move, the Federal Government has released draft amendments to Division 6C of the Income Tax Assessment Act 1936 and called for final submissions by 14 August 2008. Partner Charles Armitage and Senior Associate Thomas McAuliffe looks at what the proposed amendments mean
- 03 July 2008
Focus: Managed Investment Trusts Withholding TaxThe Federal Government announced changes in the 2008-09 federal Budget to the withholding tax rules applicable to certain distributions from Australian managed investment trusts. Legislation to implement these changes has now come into operation. Partner Peter Allen and Senior Associate Katrina Parkyn report
- 02 July 2008
Focus: TaxThe Inspector-General of Taxation has released a report that makes recommendations for the improvement of the Tax Office's administration of GST audits of large taxpayers. Partner Ross Stitt, Senior Associate Chris Peadon and Lawyer Pouyan Afshar discuss the report's recommendations
- 30 May 2008
Focus: TaxThe High Court has handed down its first decision involving the interpretation of a substantive GST issue: whether GST was payable on the forfeiture of a deposit paid under a land sale contract. The decision is likely to create uncertainty for both the Commissioner of Taxation and taxpayers, including where a forfeited deposit has been retained if the underlying transaction would not have generated a GST liability
- 28 May 2008
Focus: TaxIn the second part of our two-part series on changes to stamp duty across Australia, Partner Adrian Chek and Senior Associate Katrina Parkyn look at recent developments in stamp duty in the Australian Capital Territory, New South Wales, Tasmania, Victoria, South Australia and the Northern Territory
- 26 May 2008
Focus: TaxIn the first part of a two-part series on stamp duty changes across Australia, Partner Adrian Chek and Senior Associate Katrina Parkyn look at recent changes to stamp duty in Western Australia
- 21 May 2008
Focus: TaxThe recent decision in Metlife Insurance Ltd v FCT suggests that the provision that permits the Federal Commissioner of Taxation to amend assessments at any time in respect of certain CGT events is considerably broader than was the case under the former capital gains tax regime. Partner Sarah Bernhardt and Senior Associate Melanie Baker discuss Metlife and its implications for taxpayers
- 05 May 2008
Focus: Tax DisputesA new Federal Court practice for tax appeals will impact on the way in which taxpayers deal with tax disputes. Partners Grant Cathro and Michael Quinlan and Senior Associate Chris Peadon discuss the new practice note and its implications for the conduct of an appeal and preparation during the objection and audit process
- 19 February 2008
Focus: TaxThe Australian Law Reform Commission has recommended enshrining in legislation protections against the Australian Tax Office accessing tax advice, and changing the scope of the protection afforded to tax advice provided by non-lawyers. Partner Malcolm Stephens, Senior Associate Chris Peadon and Lawyer Pouyan Afshar of our Tax Dispute Group report
- 16 January 2008
Focus: Health, Aged Care & RetirementWe examine the latest chapter in a case involving workers exposed to traumatic events; New South Wales planning policy changes for housing for senior and disabled people; and recent Australian Taxation Office rulings regarding the GST and retirement villages
- 01 November 2007
Paper: Current debt/equity issues in a cross border contextMartin Fry discusses recent income tax developments relating to the debt/equity classification of arrangements used by Australian corporate entities when raising funds from offshore
- 16 August 2007
Focus: TaxThe Tax Laws Amendment (2007 Measures No 5) Bill 2007 (Cth) was tabled in Federal Parliament today. Partner Charles Armitage outlines the significance of the Bill
- 28 June 2007
Focus: TaxOn 21 June 2007, the Australian Taxation Office released a practice statement setting out its policies and guidelines when conducting litigation. Partner Paul Nicols and Senior Associate Chris Peadon, both from our Tax Dispute Group, discuss the practical implications for taxpayers who are, or may become involved, in a dispute with the Tax Office
- 22 June 2007
Client Update: TaxMortgage duty in New South Wales will be abolished sooner than forecast. Partner Adrian Chek reports
- 13 June 2007
Focus: TaxA recent report by the Inspector-General of Taxation identifies problems with the Australian Tax Office's objectivity and fairness in administering service entity arrangements, reiterates that the ATO has a reluctance to admit fault, and concludes that the ATO has sidestepped fundamental principles of good tax administration. Partner Paul Nicols and Senior Associate Chris Peadon discuss why these findings are of concern to all taxpayers
- 10 May 2007
Client Update: Banking & FinanceLegislation introduced today into Federal Parliament clarifies that the vast majority of syndicated loan facilities of at least $100 million that satisfy the public offer test will qualify for exemptions from interest withholding tax under sections 128F and 128FA of the Income Tax Assessment Act 1936 (Cth), without having to use a 'loan note' structure. Partner Diccon Loxton reports on the details of the Tax Laws Amendment (2007 Measures No. 3) Bill 2007
- 03 May 2007
Client Update: Capital MarketsIn a draft class ruling issued to Hutchison Telecommunications (Australia) Limited on the tax treatment of rights issued under a proposed renounceable rights issue, the Australian Taxation Office proposes to adopt a position that has significant implications for the Australian capital market, with the potential to adversely affect the ability of listed entities to raise capital. Partner Victoria Poole reports
- 27 February 2007
Focus: TaxThe Australian Taxation Office has issued a revised Code of Settlement Practice, which provides guidance to ATO staff on tax dispute settlements. Partners Michael Quinlan and Ross Stitt, and Senior Associate Malcolm Stephens examine the new Code
- 22 December 2006
In the moneyIn this edition: Australian media and ownership law changes; The importance of being a financial product; Tax promoter penalty rules; and more ...
- 11 August 2006
Focus: TaxThe Federal Government recently released the Inspector-General of Taxation's report into the Australian Taxation Office management of tax litigation. Partner Ross Stitt and Senior Associate Chris Peadon discuss the report's key findings, including that sometimes the ATO's over-emphasis on enforcement can compromise its objectivity and fairness in litigation, and the implications of the recommendations for corporate taxpayers
- 20 June 2006
Client Update: TaxA bill recently passed by the NSW Parliament proposes to make significant changes to NSW mortgage duty with effect from 1 July 2006. These will broaden the scope of NSW mortgage duty until its eventual abolition on 1 January 2011. Partners Adrian Chek and Tony Sheehan report
